The Canadian real estate market can be unforgiving, especially when you’re faced with unexpected financial challenges like job loss. In such difficult times, it’s essential to have a plan to address your mortgage, expenses, and debt. This article provides valuable advice on how to handle your mortgage and financial situation if you’ve lost your job in Canada. We discuss various options and financial advice to help you navigate this crisis.
Are you at risk of bankruptcy due to increasing debt as a homeowner? Have you been struggling to pay off your mortgage and cover other living expenses? It is possible to avoid bankruptcy and still keep your home, even if it feels impossible. Bankruptcy has become increasingly common in recent years. In fact, more and more Canadians are declaring bankruptcy this year compared to last year. This is due to inflation as well as the threat of a looming recession.